Bearish advisers
Fewer Canadian advisers are bullish on stocks than they were three months ago.
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- Fewer Canadian advisers are bullish on stocks than they were three months ago, a new poll suggests. Horizons Exchange Traded Funds Inc. surveyed 200 investment professionals and found bullish sentiment on the S&P/TSX 60 (Total Return) declined from 59% in Q2 to 54% in Q3. Expectations for the S&P 500 and NASDAQ were also down but the biggest drop was for the MSCI Emerging Market Index with sentiment dropping from 59% to 48% after a 10% decline in returns last quarter. “Up until recently, Canadian advisers had a lot of confidence in stocks. After a quarter of difficult returns, that enthusiasm seems to be waning,” Howard Atkinson, CEO of Horizons ETFs, said in a press release. Bullish sentiment for commodities including natural gas and oil actually increased.
- Are you happy with your bank? Fewer of us are, according to a new study. Canadians are less impressed with their bank, especially the Big 5, compared to last year following changes to fee structures and eroding confidence in the overall financial system, the 2012 J.D. Power Canadian Retail Banking Customer Satisfaction Study found. Some 27% of respondents experienced a fee change in the past year. Mid-size banks are also out-performing big banks in digital banking at a time when online banking has surpassed branch usage. Head here to see the results.
- New Equifax data suggests consumer debt growth is slowing in Canada. Total consumer non-mortgage debt in Q2 rose by 3.1% in Q2 compared to 4.4% in the same period last year. See the overall trend below or check out the full report. Click image to enlarge:
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